Miro Fiordi, CEO Credito Valtellinese Bruxelles, 1st December 2014

6th European Forum Co-operative Banks and SMEs

Credito Valtellinese banking Group near the SMEs: The role of EU funds

Foreword - 1

“The aim of this Forum is to bring to the forefront the main elements impacting SMEs’ access to finance by taking a comprehensive perspective. It will make a first Assessment of the new EU instruments to finance SMEs, and discuss the Financial Services Regulation: impediment or incentive for co-operative banks to finance SMEs?”

WE DEFINE OURSELVES…a model to finance the real economy

Foreword - 2

«New financial market regulations, which intend to stabilise the markets,

are squeezing the lending capacity of banks» (Gerard Huemer, UEAPME).

WHY Creval banking Group together with IEB-IEF funds?

To be able to serve the needs of the real economy even better,

mainly at local/regional level.

Index

1. Introduction. Creval banking Group

2. IEF guarantee to support innovative SMEs

3. IEB funds

4. CreditoAdesso for SMEs in Lombardy

5. Promotion

6. Concluding remarks

1. Introduction. The Creval Group

«Popular» banking Group - cooperative

Economic trend – end 2014 (EU Commission - forecasts)- GDP decreasing since 2008: more than 10% - this year -0,4%;- Unemployment rate: 12,6%;- Debt/Gdp 132,2%.

Creval Group reaction – for SMESs1.Supply of financial products at very favorable conditions - through agreements with main institutional partners such as BEI and FEI.2.The branches of the Group, including specialized skills aimed to follow SMEs, are near them to choice together the best suitable products for their needs.

1. Introduction. Economic trend and Creval Group

MARKET OPPORTUNITIES

1. The spectrum of the offer of financing products grows substantially

2. Credit «capability» increases

3. Funding at very favourable rates and duration (not available in the market);

4. Guarantee IEF at a supranational level with 0 risk-weighted.

1. Introduction. IEB and IEF for the Creval banking Group

2. IEF guarantee to support innovative SMEs

July 2013: agreement between IEF and Credito Valtellinese to foster credit

for small mid-caps and SMEs within the framework of Risk Sharing

Instrument (RSI).

For Italian innovative enterprises:

- Plafond: 100 milioni € financing with IEF guarantee on 50% of the total

amount.

The product MUTUO FEI:Mortgage and unsecured loan.Main elements:- until 100% of the investment program cost;- amount between 25.000 and 3 million €;- duration 2-7 years. Purpose: investments in the fields ofresearch, innovation and development of theenterprise.

3. IEB Funds

February 2014: securitization aimed to allow IEB the supply to Gruppo

Credito Valtellinese of a credit line of 200 million € - for Italian firms with

less than 3.000 employees and projects to be completed within 3 years from

the distribution.

Product MUTUI BEI PROGETTI:Mortgage and secured loan for SMEs and MID CAPS- agricolture, industry and services.Maximal unitary amount 12,5 m.ni €, duration: - 2-5 years for unsecured loans- 2-15 years for mortgage loans.

It can’t be finalised to financial activities as such, orreal estate development.

4. CreditoAdesso for SMEs in Lombardy

With the support of IEB funds for Lombardy, the initiative CreditoAdesso was

born in 2012 to strengthen micro, small and medium enterprises of the

region.

Ressources available in a joint loan from Finlombarda (40%) and Creval

Group (60%).

Product CreditoAdesso:

Unsecured loan on the basis of orders or contracts for goods

and/or services whose value is at least 30.000 € for micro and

small enterprises and 100.000 € for medium ones.

Each loan may cover until 60% of the global amount of each

order/contract and has a duration of 24-36 months.

5. The promotion

1. Direct «physical» link with enterprises possibly interested2. Posters inside our branches3. Advertising4. Internet site www.creval.it

6. Concluding remarks

1. Cooperative banks: a model to finance the real economty («together, we can»).Small and medium enterprises are «the core» of our business model; «SMEs are truly the engine that can restart the growth» (Geerrst van der Horst, UNICO)

2. Dialogue among regulators, banks and SMEs representatives is very important

3. Availability/need to use innovative financing to facilitate the credit access to SMEs

4. Added value: on the basis of our values in terms of solidarity, social responsability and culture

Miro Fiordi, CEO Credito Valtellinese Bruxelles, 1 dicembre 2014

6th European Forum Co-operative Banks and SMEs

IL GRUPPO CREDITO VALTELLINESE A FIANCO DELLE PMI: IL RUOLO DEI FONDI COMUNITARI